U.S. stocks were slightly lower Tuesday, as stocks dropped following a worldwide drop in bond prices.
At the start of Tuesday, 10-year benchmark Treasury notes had yields upwards of 2.3% for the first time in almost six months, reaching by far their highest point in 2015. European indices were lower in early trading, with Germany’s DAX down almost 2.5%.
However, as the day went on, yields returns to the 2.20-2.25% range, and market losses eased.
Elsewhere, markets had their first chance to react to the news of Verizon’s acquisition of AOL, a deal that became official yesterday for the purchase price of $4.4 billion. Otherwise, investors continue to keep an eye on the considerable data releases that are still to come this week.
Here are the final numbers from Wall Street on Tuesday:
Dow Jones Industrial Average: 18,068.23 (-36.94)
NASDAQ: 4,976.19 (-17.38)
S&P 500: 2,099.12 (-6.21)